- Do you want to
be successful on Amazon?
Stick with us for
just a few minutes,and
we're gonna reveal the seven biggest things that we feel will almost guarantee your
success with Amazon,and I'm also a proud teacher and mentor and instructor
how to get started
I'm also an
Amazon business owner,so I want to make that very clear.is a coach and also
worked with us at Seller Pro doing the monthly updates, where he interviews top
experts in their field, Amazon sellers,and gives updates on Amazon and
everything going on.So Shane, thanks for being here
Cool, so in this Post,
we're gonna reveal
what we feel are
the seven biggest things you could focus on to ensure your success with
Amazon,and I'm gonna have Shane kick it off with number one.
First of all,
NO 1
like any business,you have to have some
capital.You can't come into this like you know what, I got 20 bucks.Well,
that's not gonna work, but the lovely thing is with Amazon, you don't need to
have hundreds of thousands or tens of thousandsI know plenty of people who
started with 700 bucks or something.Now we recommend more, and I think our
golden rule we like to use is have two and a half times the amount of capital
you need.
For a reorder,
who knows?
$1500,So yeah, I think that's fantastic advice.because
one of the things that we find that often times,we don't want to spend too much
time on each topic,but with having capital,if you're not putting the money
aside to do marketing,to do all those extra things and potentially
order,reorder inventory, you're gonna be messed up.You're not gonna be able to
succeed,and you're gonna be stuck with a product and no capital to be able to
do anything with it.And that first inventory order you put in is gonna be quite
small, and as Jason said,you're probably gonna run out of inventory,so it's
nice to have that extra capital to put that order in before all that cash flow
comes back to you from Amazon, and I think that's the biggest thing.
Yeah, and most of them anywherw
No 2
will give you
payment terms,so you won't have to put all the money,but you'll have to put
some of it down,which very good, again, capital.So number two, I'm gonna take
this one, it's time.You have to have time.You have to spend a consistent
amount, as much as possible.We recommend at least an hour a day if possible,but
if you can't do that, if you find every few days you can only fit in a couple
hours, that's fine,but remember, if you don't dedicate time to this,and again
that consistent time,because what happens is you say oh,I'm gonna put in an
hour here, then three days later you don't remember what you were doing.you
have to re-learn.So you want to do something consistent.I know you were this
way,and I was this way when I got started.I just had to make time.I had to put
the family to bed, I got back up out of bed and I worked until early hours in
the morning,because I was dedicated to getting this done.So you gotta have
time, and also with that time,you want to be focused.Shut off all your
distractions, shut off your phone,don't be on Facebook, all those kind of
things.
Focus on growing
your business during that time,
'cause you will
find the black hole of time happens,and if you only have an hour, it goes by
quick,so make sure you're focusing it as much as possible.
NO 3
One product at a
time.It's probably the best advice we can give,and we get that question all the
time,because people are eager, and I get it, I totally get it.You want to
ensure your greatest chance of success,but that is actually by doing one step
at a time and one product at a time so that you do things properly.If you're
trying to do five products at the same time.when you're still learning the ropes
trying to figure out all the stuff there is to learn on Amazon, you're probably
gonna do five products quite poorly, unfortunately.Once you're more advanced
and you have a team in place,maybe you can get to those places,but even more
advanced sellers I know will still launch one at a time,because they've got all
kinds of moving parts built around their product launches.So when you're
starting, just try and get the best product you can get,
'cause that's
gonna do you favors down the road,
you can make it
as best as you can with what you got.
NO 4
make sure your
product's in demand,and don't get sucked in to following a passion.So just
because you're really passionate about a product,you really think oh my goodness,this
product is gonna be the best seller.if you go on Amazon and you see nobody else
is even buying a product like that,you can't find any products like that,don't
start with a product.You know, when you get established, that's the one thing,when
you get established and you already have a market,customer base where you can
question all that,you can put risks in place.But when you're first starting
out,you want to be risk adverse.You want to be as minimal risk as possibleand
that means starting with a proven product that's in demand.And you want a
product also,I recommend, don't start with complicated products.
Don't start with
things with electronic
or anything like
that Start with a product that you know is gonna provide a solution and users
are looking for,and is as simple as possible to use,because then once you learn
Amazon,once you get established, you don't want to be dealing with poor reviews
and technical issues and all those kind of things.You get this great, in-demand
product started,you learn the ropes of Amazon, you get things moving,and then
once you get established,that's when if you have this desire for this dream
product,that's when you can test the market with that,but not right away,
definitely not right away.
All right, what's
the next one?
NO 5
Next key to success I think would be
marketing
This is something
that is always evolving, of course,because we know Facebook adsand all these
social media platforms, any advertising,is always evolving and changing,and you
have to recognize that it's going to be part of your life.
In the old days,
we could find products,
Through them up
on Amazon, and they would do really well
Does that still
happen?
Sure, but it's an
anomaly, I wouldn't expect that.
If you've built a
better mousetrap, sure,maybe that's the case, but you need to understand.you're
going to have to spend some time and some effort learning marketing.
Amazon PBC, for example, is vital to the performance of
your Amazon products, for the vast majority of people.It's not overly
complicated.It's not something that you have to stress about,but it's gonna
take you some time,and just expect that for time and for money,budgeting for
time and for your budget,making room for that marketing.
- Everyone knows
Coca Cola, everyone knows Budweiser.
Everyone knows
all these products.
Why do you still
see advertisements all over the place?
'Cause you gotta
always market'
If you're not
marketing, someone else is gonna be marketing,and they're gonna take your
customers,so that's a big thing, always marketing mindset.So then number six is
know your math.That is so huge, and I'm not talking about knowing calculus or
anything like that.I'm talking about plus and minus.I'm talking about knowing
your profit,your return on investment, your inventory cost,your shipping cost,
and learn to use spreadsheets.Learn to use just basic free ones,like Google
Spreadsheet where you learn your math.So vital, the people that succeed on
Amazon,they know their numbers.You ask them, what's your profit margin,if you
talk to a proprietor and they're like,
I'm not really
sure, I guarantee you they're not doing very well, and if they are, they're
lucky.Know your math.Any business you're in, that's a huge, huge thing.Know
your math, know your numbers.
Make sure you
know that you're actually profitable.
So, what's the
last one?
NO 6
- Last one is
mindset, and I think it's,well like anything in life,if you don't have the
right attitude,don't expect good results.We've talked about this before,When we
both started these businesses,we're doing other things and we're just squeaking
the time,but we had that right mindset,We knew we weren't going to fail because
we were going to put the right effort and the right attitude towards it,and you
just have to ignore what other people say.
Oh, starting a
business is risky, oh,
you can't do
that, you don't know anything about computers.
0 Comments